FACTORY ORDERS SURGE BEATING EXPECTATIONS

Men work at the Ford Motor Company's River Rouge Plant in Dearborn, Michigan, April 27, 1937. AP Photos Factory orders rose 1.1% in June, beating expectations for a 0.6% rise.

Meanwhile, June's number was revised down to reflect a 0.6% fall, compares with an initial reading of a 0.5% fall.

Here's the summary from the press release:

New orders for manufactured goods in June, up four of the last five months, increased $5.7 billion or 1.1 percent to $503.2 billion, the U.S. Census Bureau reported today. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 percent May decrease. Excluding transportation, new orders increased 1.1 percent.

Shipments, up four of the last five months, increased $2.5 billion or 0.5 percent to $499.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.1 percent May decrease.

Unfilled orders,upfourteenofthelastfifteenmonths, increased $10.4 billion or 1.0 percent to $1,098.5 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.7 percent May increase. The unfilled orders-to-shipments ratio was 6.52, unchanged from May.

Inventories, up nineteen of the last twenty months, increased $1.8 billion or 0.3 percent to $653.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.8 percentMayincrease. Theinventories-to-shipments ratio was 1.31, unchanged from May.